Diageo Launches Partial Tender Offer To Increase Aggregate Equity Stake In East African Breweries

(RTTNews) - Diageo (DGE.L, DEO), through its indirect subsidiary, Diageo Kenya, has launched a partial tender offer to increase its aggregate equity stake in East African Breweries PLC from its current 50.03% to a maximum of 65%. EABL is a regional leader in beverage alcohol. Although the business is concentrated on three core markets of Kenya, Uganda and Tanzania, its products are sold in more than 10 countries across Africa and beyond.

The tender offer price is Kenyan Shillings 192.00 per ordinary share and the maximum number of shares subject to the tender offer is 118,394,897. The tender offer period will run from 6 February 2023 to 17 March 2023.